Ark Restaurants Corp. stock price ended on $15.95 on Friday after losing 0%
(Updated on Oct 15, 2021)
Hold candidate since 2021-10-14 PDF
No changes to the price of Ark Restaurants Corp. stock on the last trading day (Friday, 15th Oct 2021). During the day the stock fluctuated 3.24% from a day low at $15.57 to a day high of $16.08. The price has risen in 7 of the last 10 days and is up by 2.9% over the past 2 weeks.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $16.15 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Ark Restaurants Corp. stock with a 90% probability to be traded between $14.29 and $15.88 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Signals & Forecast
The Ark Restaurants Corp. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $15.84 and $15.82. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, August 27, 2021, and so far it has fallen -2.15%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss
Ark Restaurants Corp. finds support from accumulated volume at $15.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.50 between high and low, or 3.24%. For the last week the stock has had a daily average volatility of 1.49%.
Our recommended stop-loss: $15.23 (-4.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 34 days ago.)
Is Ark Restaurants Corp. stock A Buy?
Ark Restaurants Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.654
Predicted Opening Price for Ark Restaurants Corp. of Monday, October 18, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price October 18, 2021||Current price|
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